Structural Steel Market Research Report – Global Forecast till 2030

Structural Steel Market Research Report, By Product (Heavy Sectional Steel, Light Sectional Steel, and Rebar), Application (Residential, Non-Residential (Commercial, Institutional, Offices) and Infrastructure) and Region — Global Forecast till 2030

ID: MRFR/CO/6021-HCR | February 2021 | Region: Global | 100 Pages         

Table of Contents

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Threat of substitutes

3.1.4 Segment rivalry

3.1.5 Bargaining Power of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

5 Global Structural Steel Market, By Product

5.1 Introduction

5.2 Heavy Sectional Steel

5.2.1 Market Estimates & Forecast, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.3 Light Sectional Steel

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

5.4 Rebar

5.4.1 Market Estimates & Forecast, 2020-2027

5.4.2 Market Estimates & Forecast by Region, 2020-2027

6 Global Structural Steel Market, By Application

6.1 Introduction

6.2 Residential

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 Non-Residential

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

6.3.3 Commercial

6.3.3.1 Market Estimates & Forecast, 2020-2027

6.3.3.2 Market Estimates & Forecast by Region, 2020-2027

6.3.4 Institutional

6.3.4.1 Market Estimates & Forecast, 2020-2027

6.3.4.2 Market Estimates & Forecast by Region, 2020-2027

6.3.5 Offices

6.3.5.1 Market Estimates & Forecast, 2020-2027

6.3.5.2 Market Estimates & Forecast by Region, 2020-2027

6.3.6 Others

6.3.6.1 Market Estimates & Forecast, 2020-2027

6.3.6.2 Market Estimates & Forecast by Region, 2020-2027

6.4 Infrastructure

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast by Region, 2020-2027

7 Global Structural Steel Market, By Region

7.1 Introduction

7.2 North America

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Product, 2020-2027

7.2.3 Market Estimates & Forecast by Application, 2020-2027

7.2.4 US

7.2.4.1 Market Estimates & Forecast, 2020-2027

7.2.4.2 Market Estimates & Forecast by Product, 2020-2027

7.2.4.3 Market Estimates & Forecast by Application, 2020-2027

7.2.5 Canada

7.2.5.1 Market Estimates & Forecast, 2020-2027

7.2.5.2 Market Estimates & Forecast by Product, 2020-2027

7.2.5.3 Market Estimates & Forecast by Application, 2020-2027

7.2.6 Mexico

7.2.6.1 Market Estimates & Forecast, 2020-2027

7.2.6.2 Market Estimates & Forecast by Product, 2020-2027

7.2.6.3 Market Estimates & Forecast by Application, 2020-2027

7.3 Europe

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Product, 2020-2027

7.3.3 Market Estimates & Forecast by Application, 2020-2027

7.3.4 UK

7.3.4.1 Market Estimates & Forecast, 2020-2027

7.3.4.2 Market Estimates & Forecast by Product, 2020-2027

7.3.4.3 Market Estimates & Forecast by Application, 2020-2027

7.3.5 Germany

7.3.5.1 Market Estimates & Forecast, 2020-2027

7.3.5.2 Market Estimates & Forecast by Product, 2020-2027

7.3.5.3 Market Estimates & Forecast by Application, 2020-2027

7.3.6 France

7.3.6.1 Market Estimates & Forecast, 2020-2027

7.3.6.2 Market Estimates & Forecast by Product, 2020-2027

7.3.6.3 Market Estimates & Forecast by Application, 2020-2027

7.3.7 Italy

7.3.7.1 Market Estimates & Forecast, 2020-2027

7.3.7.2 Market Estimates & Forecast by Product, 2020-2027

7.3.7.3 Market Estimates & Forecast by Application, 2020-2027

7.3.8 Rest of Europe

7.3.8.1 Market Estimates & Forecast, 2020-2027

7.3.8.2 Market Estimates & Forecast by Product, 2020-2027

7.3.8.3 Market Estimates & Forecast by Application, 2020-2027

7.4 Asia-Pacific

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Product, 2020-2027

7.4.3 Market Estimates & Forecast by Application, 2020-2027

7.4.4 China

7.4.4.1 Market Estimates & Forecast, 2020-2027

7.4.4.2 Market Estimates & Forecast by Product, 2020-2027

7.4.4.3 Market Estimates & Forecast by Application, 2020-2027

7.4.5 Japan

7.4.5.1 Market Estimates & Forecast, 2020-2027

7.4.5.2 Market Estimates & Forecast by Product, 2020-2027

7.4.5.3 Market Estimates & Forecast by Application, 2020-2027

7.4.6 India

7.4.6.1 Market Estimates & Forecast, 2020-2027

7.4.6.2 Market Estimates & Forecast by Product, 2020-2027

7.4.6.3 Market Estimates & Forecast by Application, 2020-2027

7.4.7 Rest of Asia-Pacific

7.4.7.1 Market Estimates & Forecast, 2020-2027

7.4.7.2 Market Estimates & Forecast by Product, 2020-2027

7.4.7.3 Market Estimates & Forecast by Application, 2020-2027

7.5 Rest of the World

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Product, 2020-2027

7.5.3 Market Estimates & Forecast by Application, 2020-2027

7.5.4 South America

7.5.4.1 Market Estimates & Forecast, 2020-2027

7.5.4.2 Market Estimates & Forecast by Product, 2020-2027

7.5.4.3 Market Estimates & Forecast by Application, 2020-2027

7.5.5 Middle East & Africa

7.5.5.1 Market Estimates & Forecast, 2020-2027

7.5.5.2 Market Estimates & Forecast by Product, 2020-2027

7.5.5.3 Market Estimates & Forecast by Application, 2020-2027

8 Competitive Landscape

9 Company Profile

9.1 ArcelorMittal S.A.

9.1.1 Company Overview

9.1.2 Products/Products Offering

9.1.3 Financial Overview

9.1.4 Key Developments

9.1.5 Strategy

9.1.6 SWOT Analysis

9.2 Hebei Group

9.2.1 Company Overview

9.2.2 Products/Products Offering

9.2.3 Financial Overview

9.2.4 Key Developments

9.2.5 Strategy

9.2.6 SWOT Analysis

9.3 Baosteel Group Co.

9.3.1 Company Overview

9.3.2 Products/Products Offering

9.3.3 Financial Overview

9.3.4 Key Developments

9.3.5 Strategy

9.3.6 SWOT Analysis

9.4 Nippon Steel & Sumitomo Metal Corporation

9.4.1 Company Overview

9.4.2 Products/Products Offering

9.4.3 Financial Overview

9.4.4 Key Developments

9.4.5 Strategy

9.4.6 SWOT Analysis

9.5 POSCO

9.5.1 Company Overview

9.5.2 Products/Products Offering

9.5.3 Financial Overview

9.5.4 Key Developments

9.5.5 Strategy

9.5.6 SWOT Analysis

9.6 Wuhan Group

9.6.1 Company Overview

9.6.2 Products/Products Offering

9.6.3 Financial Overview

9.6.4 Key Developments

9.6.5 Strategy

9.6.6 SWOT Analysis

9.7 Tata Limited

9.7.1 Company Overview

9.7.2 Products/Products Offering

9.7.3 Financial Overview

9.7.4 Key Developments

9.7.5 Strategy

9.7.6 SWOT Analysis

9.8 Anshan Iron & Steel Group Corporation

9.8.1 Company Overview

9.8.2 Products/Products Offering

9.8.3 Financial Overview

9.8.4 Key Developments

9.8.5 Strategy

9.8.6 SWOT Analysis

9.9 Anyang Group Co. Ltd.

9.9.1 Company Overview

9.9.2 Products/Products Offering

9.9.3 Financial Overview

9.9.4 Key Developments

9.9.5 Strategy

9.9.6 SWOT Analysis

9.9 Baogang Group

9.9.1 Company Overview

9.9.2 Products/Products Offering

9.9.3 Financial Overview

9.9.4 Key Developments

9.9.5 Strategy

9.9.6 SWOT Analysis

9.10 Hyundai Steel Co. Ltd.

9.10.1 Company Overview

9.10.2 Products/Products Offering

9.10.3 Financial Overview

9.10.4 Key Developments

9.10.5 Strategy

9.10.6 SWOT Analysis

9.11 Bohai Group

9.11.1 Company Overview

9.11.2 Products/Products Offering

9.11.3 Financial Overview

9.11.4 Key Developments

9.11.5 Strategy

9.11.6 SWOT Analysis

List of Tables

Table 1 Global Structural Steel Market, by Region, 2020-2027

Table 2 North America: Structural Steel Market, by Country, 2020-2027

Table 3 Europe: Structural Steel Market, by Country, 2020-2027

Table 4 Asia-Pacific: Structural Steel Market, by Country, 2020-2027

Table 5 RoW: Structural Steel Market, by Country, 2020-2027

Table 6 Global Structural Steel Market, by Product, by Region, 2020-2027

Table 7 North America: Structural Steel Market, by Product, by Country, 2020-2027

Table 8 Europe: Structural Steel Market, by Product, by Country, 2020-2027

Table 9 Asia-Pacific: Structural Steel Market by Product, by Country, 2020-2027

Table 10 RoW: Structural Steel Market by Product, by Country, 2020-2027

Table 11 Global Structural Steel Market, by Application, by Region, 2020-2027

Table 12 North America: Structural Steel Market, by Application, by Country, 2020-2027

Table 13 Europe: Structural Steel Market, by Application, by Country, 2020-2027

Table 14 Asia-Pacific: Structural Steel Market by Application, by Country, 2020-2027

Table 15 RoW: Structural Steel Market by Application, by Country, 2020-2027

Table 16 Global Structural Steel Market, by Region, 2020-2027

Table 17 Global Structural Steel Market, by Product, 2020-2027

Table 18 Global Structural Steel Market, by Application, 2020-2027

Table 19 North America: Structural Steel Market, by Country

Table 20 North America: Structural Steel Market, by Product

Table 21 North America: Structural Steel Market, by Application

Table 22 Europe: Structural Steel Market, by Country

Table 23 Europe: Structural Steel Market, by Product

Table 24 Europe: Structural Steel Market, by Application

Table 25 Asia-Pacific: Structural Steel Market, by Country

Table 26 Asia-Pacific: Structural Steel Market, by Product

Table 27 Asia-Pacific: Structural Steel Market, by Application

Table 28 RoW: Structural Steel Market, by Region

Table 29 RoW: Structural Steel Market, by Product

Table 30 RoW: Structural Steel Market, by Application


List of Figures

FIGURE 1 Research Process of MRFR

FIGURE 2 Top down & Bottom up Approach

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter’s Five Forces Analysis

FIGURE 7 Value chain analysis

FIGURE 8 Global Structural Steel Market Share, by Product, 2020 (%)

FIGURE 9 Global Structural Steel Market, by Product, 2020-2027 (USD MILLION)

FIGURE 10 Global Structural Steel Market Share, by Application, 2020 (%)

FIGURE 11 Global Structural Steel Market, by Application, 2020-2027 (USD MILLION)

FIGURE 12 Global Structural Steel Market Share (%), by Region, 2020

FIGURE 13 Global Structural Steel Market, by Region, 2020-2027 (USD MILLION)

FIGURE 14 North America: Structural Steel Market Share (%), 2020

FIGURE 15 North America: Structural Steel Market by Country, 2020-2027 (USD MILLION)

FIGURE 16 Europe: Structural Steel Market Share (%), 2020

FIGURE 17 Europe: Structural Steel Market, by Country, 2020-2027 (USD MILLION)

FIGURE 18 Asia-Pacific: Structural Steel Market Share (%), 2020

FIGURE 19 Asia-Pacific: Structural Steel Market, by Country, 2020-2027 (USD MILLION)

FIGURE 20 Rest of the World Structural Steel Market Share (%), 2020

FIGURE 21 Rest of the World Structural Steel Market by Country, 2020-2027 (USD MILLION)

Structural Steel Market

The structural steel market is projected to be worth USD 162.64 Billion by 2030, registering a CAGR of 5.4% during the forecast period (2022 - 2030)

Segmentation

By Product Heavy Sectional Steel Light Sectional Steel Rebar
By Application Residential Non Residential Infrastructure

Key Players

  • ArcelorMittal S.A.
  • Hebei Group
  • Baosteel Group Co.
  • Nippon Steel & Sumitomo Metal Corporation
  • Tata Limited
  • Anshan Iron & Steel Group Corporation
  • Anyang Group Co. Ltd.
  • Baogang Group
  • Hyundai Steel Co. Ltd.
  • Bohai Group
  • POSCO

Drivers

  • Significant increase in residential and non-building construction across the globe
  • Increase in focus on innovation in green construction materials
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Structural Steel Market Synopsis  


The structural steel market is projected to be worth USD 162.64 Billion by 2030, registering a CAGR of 5.4% during the forecast period (2022 - 2030), The market was valued at USD 102.17 billion in 2021.


Increasing residential and non-residential construction activities, as well as rising demand for steel products as building materials, will drive industry growth. The global structural steel market is expected to grow sustainably in the coming years, owing to rising disposable income and technological advancements in prefabricated and pre-engineered building projects in the overall construction industry. High demand for infrastructure in emerging economies such as China and India is expected to drive structural steel market growth in the coming years. One of the trends in the construction industry that is expected to fuel demand for structural steel building designs over the forecast period is a greater emphasis on innovation in green construction materials. These materials are recyclable, eco-friendly, and help to reduce greenhouse gas emissions and will help in Structural Steel Market Growth.


COVID 19 Analysis


The demand for structural steel fell down in 2020 as a result of the government's lockdown and low demand from the construction industry. The import and export of structural steel has been hampered by the Coronavirus. China is the world's largest exporter of construction materials. Negative trends in China's economy are expected to reduce global imports and exports around the world. Since the corona outbreak, the demand for new construction materials has seen a massive negative shift. As a result, the global supply and demand for construction materials have come to a halt. Construction material manufacturing companies in China are the most affected by the virus outbreak, owing to the region's lockdown and lack of logistics. The major impediment to the global construction materials market is the issuance of home quarantine orders by respective governments, which has resulted in the cessation of construction material production. Reduced consumer demand and consumption have resulted in a reduction and slowing of construction material sales all over the world during the current fiscal year. As a result, the Structural Steel Market has suffered in 2020 and has reduced the Structural Steel Market Share.


Competitive Analysis


The report covers the major players operating in the structural steel fabrication market in India and is adding to the Structural Steel Market Share. Urbanization and construction generate strong demand for steel long products such as bars and sections, while the growth of the manufacturing industry generates demand for flat products such as hot and cold rolled coil and stainless steel, which is likely to boost structural steel market share. Expansions, investments, and contracts are just a few of their important initiatives over the forecast period. The key market players have been recognized as follows:



  • ArcelorMittal S.A.

  • Hebei Group

  • Baosteel Group Co.

  • Nippon Steel & Sumitomo Metal Corporation

  • Tata Limited

  • Anshan Iron & Steel Group Corporation

  • Anyang Group Co. Ltd.

  • Baogang Group

  • Hyundai Steel Co. Ltd.

  • Bohai Group

  • POSCO


Market Dynamics


Drivers


The significant increase in residential and non-building construction across the globe, as well as the use of structural steel in the construction of these buildings, is regarded as the primary driver of the structural steel market. The expansion of the manufacturing industries generates demand for flat products such as stainless steel, which can act as a driver for the structural steel market. Because structural steel is recyclable, the growing demand for green building construction is driving up the market for structural steel. Furthermore, rising construction activity and infrastructure development in countries such as India and China have the potential to significantly expand the structural steel market. The government initiative to improve housing conditions in various countries has increased demand for structural steel in the construction industries. Large facades, walls, and other materials are made of structural steel and help in driving the Structural Steel Industry.


Restraints


In the construction industry, a lack of awareness about the benefits of these structural steels can restrain the market growth. The fluctuating raw material cost is the most important factor which restrains the Structural Steel Market Growth. Thus, it leads to decreased Structural Steel Market Value.


Technology Analysis


The demand for high-quality construction materials in a variety of residential and non-residential buildings, such as offices, institutions, and commercial buildings, has driven up the global structural steel market. Furthermore, structural steel has numerous applications in industries such as construction, transportation, mining, shipbuilding, packaging, and others. It is used in the construction of large structures such as bridges, canals, warehouses, and factories. Structural steel is used to make beams, steel frames, columns, and bars, which are used in the construction of large structures. Furthermore, structural steel is used in the construction of trucks, trains, rail tracks, and ships due to its high tensile strength, corrosion resistance, and ductility. It is inexpensive and can be recycled in the future and increases the Structural Steel Market Size over the forecast period.


Global Structural Steel Market: Segmentation


Structural Steel Market


Source: MRFR Analysis


Segment Overview


The global market for Structural Steel is further distinguished into various segments on the basis of product type, application, and region in order to achieve the predicted CAGR growth by the end of the forecast period in 2028. The market has been segmented based on the following:


Based on the Product type, the market has been segmented as follows:



  • Heavy structural Steel

  • Angle [L shaped]

  • Bearing Pile [H shaped]

  • Channel [C shaped]

  • I beam [I shaped]

  • Tee [T shaped]

  • Pipe

  • Hollow Steel Section [HSS]

  • Light Structural Steel

  • Angle [L shaped]

  • Bearing Pile [H shaped]

  • Channel [C shaped]

  • I beam [I shaped]

  • Tee [T shaped]

  • Pipe

  • Hollow Steel Section [HSS]

  • Rebar


Based on the application, the market has been segmented as follows:



  • Residential

  • Non Residential

  • Commercial

  • Offices

  • Institutions

  • Health Buildings

  • Industrial

  • Energy Development

  • Station and Hangers

  • Bridges


Based on the region, the market has been segmented as follows:



  • North America

  • S.

  • Canada

  • Mexico

  • Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Russia

  • Poland

  • Belgium

  • Luxembourg

  • Asia – Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • New Zealand

  • Malaysia

  • LAMEA

  • Latin America

  • Middle East

  • Africa


Intended Audience



  • Raw Material Suppliers

  • End Users

  • Contractors

  • Traders & Distributors

  • Regulatory Bodies


Regional Analysis


The global structural steel market is divided into four regions: North America, Europe, Asia-Pacific, and LAMEA. In 2019, Asia-Pacific held the largest share of the structural steel market, a position it will hold until the end of 2028. The market in this region is primarily driven by rapid industrial growth in conjunction with technological advancements in the region's construction industry. Increased construction spending is also driving up demand in the region's structural steel market. China has emerged as the most profitable country in this region as a result of its rapid GDP growth, which has fueled demand for construction activities. The exponential growth of the residential and housing sectors in this region is also driving demand for structural steel which will anyhow give a boom to Structural Steel Industry and will increase the Structural Steel Market Value.


Recent Developments



  • The Chinese government's recent announcement to spend on infrastructure projects such as railways and the One Belt, One Road link to Europe may stimulate the structural steel market during the forecast timeframe. The major growth drivers in this region are rising living standards, increasing urbanization, and the demand for high-quality construction in the commercial and residential sectors.

  • ArcelorMittal and Nippon Steel completed their joint acquisition of Essar Steel India Ltd., which may allow the acquiring companies to capitalize on India's long-term structural steel market. Essar Steel manufactures a variety of steel products, including structural steel plates and line pipes.

  • Hesteel purchased a 70% stake in Indian steel producer Tata Steel in order to increase its international market share, primarily in Southeast Asia, where construction and infrastructure spending has increased.


Report Overview


The report forecasts revenue growth at the global, regional, and country levels, as well as an analysis of the most recent industry trends in each of the sub-segments. The purpose of this report is to provide a comprehensive analysis of the Global Structural Steel Market. It focuses on market dynamics, technological trends, and insights into different end-user industries and product types. Furthermore, it examines the key players and competitive landscape in the Global Structural Steel Market. The report includes data on key drivers, restraints, and opportunities, as well as a detailed analysis of the Structural Steel Market share.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 162.64 Billion
  CAGR   5.4% CAGR (2022 to 2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Technology, by Application, by Material
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ArcelorMittal S.A., Hebei Group, Baosteel Group Co., Nippon Steel & Sumitomo Metal Corporation, POSCO, Wuhan Group, Tata Limited, Anshan Iron & Steel Group Corporation, Anyang Group Co. Ltd., Baogang Group, Hyundai Steel Co. Ltd., Bohai Group
  Key Market Opportunities

  • Rapid urbanization
  • Unprecedented growth in the construction sector
  • Increase in focus on innovation in green construction materials
  •   Key Market Drivers

  • Recyclable
  • Environmentally friendly
  • Reduces the greenhouse gas emissions


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    Frequently Asked Questions (FAQ) :

    Structural steel market would grow with 5.4% CAGR during the forecast period.

    Increasing disposable income and rising need for pre-engineered constructions would dominate structural steel market.

    The APAC region would dominate the structural steel market.

    Heavy sectional steel would dominate structural steel market.

    The non-residential segment had the maximum structural steel market share.

    Increasing disposable income and the rising need for pre-engineered constructions is the major driver driving the Structural Steel Market during the forecast period in 2028.